Carolina de Trazegnies

Peruvian qualified lawyer and arbitrator with over 20 years of experience in energy regulation, competition law and arbitration. Ranked by Chambers & Partners since 2026 among the "Most in Demand Arbitrators" and recognized by Lexology Index as highly Recommended in Arbitration in Perú. With broad experience in electricity regulation, including renewable energy generation, electricity auctions, and electricity and natural gas tariffs and networks, she has also been ranked by Chambers & Partners as a sole practitioner for her work in the power market.

Carolina currently serves as a Member of the Court of Arbitration of the American Chamber of Commerce in Peru (AmCham Perú), as Peruvian Delegate to the ICC Commission on Arbitration and ADR, and as Vice President of the ICC Peru Arbitration Commission. She has acted as arbitrator in more than 60 cases administered by the leading arbitral institutions in Peru, serving as party-appointed arbitrator, sole arbitrator and President of the Tribunal. Her practice spans a wide range of industries, including arbitration, regulatory and antitrust proceedings in the telecommunications, energy, brewing, cotton and fast-food sectors. She has acted as independent legal expert in energy-related disputes before domestic and international arbitral tribunals, advises clients on energy law, market regulation, antitrust, and domestic and international arbitration, with an emphasis on the energy sector and represents energy-related clients in complex regulatory disputes, including as local counsel in international investor-state disputes.

Sole practitioner, Lima, (2021- to date)

Senior counsel leading the Energy practice at Philippi Prietocarrizosa Ferrero DU & Uría Perú (prev. Delmar Ugarte Abogados), Lima, (2011- 2020)

Legal Advisor to the President and Board of Directors at OSINERGMIN Lima, (2010-2011)

Associate at Bullard, Falla & Ezcurra Abogados, Lima (2002-2009)

Associate in the International Arbitration Group at Curtis, Mallet-Prevost, Colt & Mosle LLP, New York ( 2007– 2008)

Peruvian Delegate to the ICC Commission on Arbitration and ADR (2024-2027) and Vice President of the ICC Peru Arbitration Commission

Member of the Arbitration Court of AmCham Perú

Member of the panel of arbitrators of the Inter-American Commission on Comercial Arbitration (CIAC), the Arbitration Center of the Lima Chamber of Commerce (CCL), and the Arbitration Center of the Pontificia Universidad Católica del Perú

Member of the Lima Bar Association, admitted to practice law in Peru

-'Renewable Schizophrenia?' An Analysis of the Results of RER Auctions in Peru. In: Renewable Energy Arbitration in Latin America, Journal of the Latin American Arbitration Association (ALARB), No. 15, June 2026, pp. 176-203.

-To separate or not to separate. The dilemma of vertical integration in the Peruvian electricity market thirty years after its reform. Lima, In: Servicios Públicos, Infraestructura y Transición Energética: Balance y Oportunidades. QA Legal, Lima, (2023).

- Nazzini, Renato and Blanke, Gordon (ed). “International & Comparative Competition Litigation Handbook”, Chapter on Peru. Kluwer Law International, London, (2012). (Co-authored with Alejandro Falla and Alfredo Bullard)

-Bullard, Alfredo and Soto, Carlos (ed.) Commentaries to the Peruvian Arbitration Law. Commentaries to Article 70 on Awarding Costs. Instituto Peruano de Arbitraje Comercial y Arbitraje de Inversiones. Lima, (2011).

-“Ladies Night. Double platforms businesses and competition regulation”. In: Ius et Veritas No. 43 (2011) (Co-authored with Alejandro Falla)

- Co-counsel to Freshfields in an international arbitration that secured a US$110.7 million award, plus pre- and post-award interest, for power generation company IC Power and its parent company, Kenon Holdings.

- Has served as arbitrator in more than 60 cases administered by the leading arbitral institutions in Peru, acting, among others, as sole arbitrator and President of the Tribunal in complex energy cases.

- Provided legal expert testimony on electricity regulation in a contractual dispute against the Government of Peru involving the decision to interconnect the Iquitos Isolated System, the largest isolated system in Peru, to the national grid.

-Provided legal expert testimony in six parallel arbitrations initiated by an investor against the Government of Peru concerning the termination of concession agreements for the development of renewable energy projects.

-Engaged by a major electricity buyer to provide legal expert testimony in a commercial energy dispute against a major player in the electricity generation market, arising out of a long-term power purchase agreement.

-Represented a major distribution company in parallel administrative and contractual disputes arising out of a power purchase agreement, against three major generation companies, concerning capacity and electricity sales in the wholesale market.

-Advised the Ministry of Energy and Mines in drafting proposed amendments to the rules on vertical separation in the electricity industry and competition in the power sector.

-Advised, together with PPU Chile, private and public clients on the feasibility of interconnecting the Peruvian and Chilean national grids.

-Was part of the team that advised a multilateral organization in the international financing of the construction of the "Planta Etén" cold reserve power plant, which won the "Americas Project Finance Deal of the Year 2013" from the International Financial Law Review.

-Participated in the working groups and drafting of proposals for the Law for the Repression of Anticompetitive Conduct (2008) and the Consumer Protection Code (2009-2010), the latter representing the Energy Sector Regulator.

-Advised the President and Board of Directors of the Peruvian Energy Regulator (OSINERGMIN) on legal matters relating to market regulation in the oil, gas and electricity sectors, including drafting of the regulatory framework and conducting both electricity auctions and auctions for the generation of electricity from renewable energy sources.

Columbia Law School

Master of Laws

2006 - 2007

Pontificia Universidad Católica del Perú

Lawyer

1995 - 2002

Power and Natural Gas, Regulated industries, Civil Law, Administrative Law

Peru